Mahindra and Mahindra today released its monthly sales report, and in May 2019, the carmaker's total sales stood around 45,421 units. I...
Mahindra and Mahindra today released its monthly sales report, and in May 2019, the carmaker's total sales stood around 45,421 units. In comparison, the carmaker sold a total of 46,848 units during the same month last year, thus registering a de-growth of 3 per cent. The company's domestic sales saw a similar decline last month with the company selling 43,056 units in May 2019, against the 43,818 units sold during the same month last year, registering a drop of 2 per cent. The company's exports, on the other hand, took the biggest hit, going down by 22 per cent with 2365 units, compared to the 3,030 units sold during the same month last year.
Also Read: Mahindra EV Sales Soar By Over 60 Per Cent In FY19-20
Commenting on the performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, "While consumer sentiment and demand continued to be subdued during the pre-election phase, our focus has been on correcting the channel inventory. Now, with a stable government at the centre and the forecast of a near normal monsoon, we hope to see an improvement in consumer sentiment over the next few months."
Also Read: Mahindra and Mahindra's Q4 Profit Slips By 20% To Rs. 849 Crore
Mahindra's passenger vehicles segment, which consists of UVs, Cars and Vans, accounts for 20,608 vehicles in May 2019, as against 20,715 vehicles for the same period last year, a decline of 1 per cent. As for the commercial vehicles segment, the company sold 17,879 vehicles in May 2019, as against 18,748 vehicles in May 2018, a de-growth of 5 per cent. At the same time, in the Medium and Heavy Commercial Vehicles segment, Mahindra sold 637 vehicles for the month, compared to the 1,152 units sold in May 2018, registering a massive decline of 45 per cent.
from NDTV CarAndBike - Latest News http://bit.ly/2HO4eIf
COMMENTS